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, it is time for dc to take a cue from the bayou . bobby jindal want to limit the state income tax and corporate tax it is time to change so people can keep their own money and foster an environment where businesses want to invest andreate good paying jobs. he would hike the 4 percent sales tax and some say like it up to washington d.c., is that right or wrong? i am dave asbin. we'll go to steve and rich and mike and john, you love this idea and think it is good for the whole, country explain. >> one of the scandal is not the deficits, but the fact that federal government collects 2.5 trillion. with the consumption or sales tax, this is the lone way we can limit how much money gets to the federal government and more businesses would be created and jobs and the federal government would not be penalizing our work and we would get more work and jobs. >> sounds good to me, rick, to you? >> here's the problem. i will not touch incredibly regressive nature of this. >> by regressive, it hits the poor more than the rich? >> exactly. put the brakes on a economy, imagine what happens here. f
think you can do all of this and solve the fiscal ills just raising taxes? what -- who is to blame kids if they think, well, i'm okay. i needn't worry. >> neil, i think the problem is deeper than that. the problem is simply this. the young people are going to pay need bills as i just said before, and guess what? they are not voting on head starts. they are not voting on the war in iraq or any of this stuff. who votes in america today, neil? senior citizens do. it's not any kind of mystery why we can't cut programs like medicaid, medicare, and social security that people get the benefits are the ones who vote. that really is a problem. if we want to get people like charlie's generation, their voice heard, they have to get out own vote for policies and protect their own financial interests. neil: but, charlie, you were telling me something interesting last time you were here, in the heart of hearts, young people you talked to are not that optimistic they'll see social security or medicare, are they? >> not really. you asked them -- a classroom i went to, how many of you receive social sec
wanted to make a comment about the tax code system. it's so complicated. i think that the government wants to do something to help out the economy, they could institute a fair tax or a flat tax, something like the libertarian candidate gary johnson was advocating last year where if you buy something you just pay the tax on it, there is no more income tax or corporate tax but a consumption type flat tax. host: do you think that would work? caller: i think that would eliminate all these loopholes people take twn tax code system. if you're married, own a house, have children, you get all these deductions and if you don't have any of those things, then you don't get to take any of those deductions so it's just not fair. if your income comes from capital gains there is a different tax rate for you. if the government wants to help bring the economy back, make everything fair across the board as far as taxes go. host: thanks for the call. we welcome our listeners and our focus this morning the role of government in solving america's problems. it was something that dwight eisenhower talked a
a lot of taxes and a lot of stories are moving in california moving from deep in the ready to in the black and coming at a high price in california. is it likely democrats will sell the story, that spending is not,er so, spending cuts are not the way to go, raising more revenue, more taxes is? >> oh, look i'm certain that is coming. there is no question in my mind that is coming but i can also assure you, bill, what is coming from the other side in the long run that hurts economic growth. in the long run that will bring about less revenue rather than more. what you're doing there you're taking money away from job creators. ultimately you will kill jobs that will bring about less revenue and everyone hurts as a result of that. it is not just those at the top end of the economic scale. it is those along every end of the spectrum and especially those who are hard-working americans living paycheck it paycheck. that is who those tax increases really hurt. in the end the government loses as well. bill: senator, thank you for your time because as we're asking these questions and t
come, everybody, i'm neil cavuto. i guess the cliff deal was the first clue. 0 times more tax hikes than spending cuts. could explain the president comment to john boehner that we don't have a spending problem. black caucus said we don't have entitlement problem. leave entitlements alone. nancy pelosi says we still have a revenue problem. don't leave the tax hikes alone. what is amazing these guys don't address a problem. this weekend we get ready to essentially coronate a president, there is no evidence anywhere among anyone in washington they even see a problem. nowhere in any of the inaugural events is so much as passing bought of spending period. more like a four-day spending palooza, celebrates wonder of government and those that benefit from the government the woman who has a job thanks to the auto rescue. the dad's whose family is protecting thanks to the health care law. i think you get the point. austerity isn't the point. more government is. this inaugural weekend is all about a blueprint for revving it up. the white house says it is low-keying the inaugural festivities be
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
jobs. without the income tax they were forced to limit the growth of their government. every state has prisons, schools but they find a way to fund those for less. those nine states gained population from other states, increase jobs four point* 9%. the other states declined. competition between neighboring states keeps them from indulging. new hampshire kept vermont politicians from going crazy. the existence of arizona and nevada teacher the california legislator from going crazy. they still do despite so many people moving. but it is good we have places like texas. smaller government meanss tomor "fox & friends."nt meanss tomor >> tune in for the after the show show. >> brenda: the people have spoken. 83% of americans calling government spending out of control. so, what do some democratic lawmakers want to do? get rid of the nation's debt limits. they say it's keeping the economy down but won't getting rid of it just push the economy down even more? hi, everyone, i'm brenda buttner, this is bulls and bears and let's get right to it. the bulls and bears this week, gary b smith, jo
phone 5 sending shares below. >> did you see your paycheck on friday? the payroll tax hike obviously kicking in for many americans. felt like a pay cut. will this be a temporary shock or a headwind as stocks hover at five-year highs. >> ubs achoirs tnt after a commission throws up road blocks. >>> to the top story. in the pre-market, we've seen apple shares fall below $500 for the first time in 11 months. the tech giant has cut its orders for iphone 5 components because of weaker than expected demands. screen orders for january to march quarter have fallen about half. the company had planned to order. apple said to cut orders for components other than screens. now, jim, we've had sort of this concern about demand for the iphone 5. i think last week when deutsche bank came out with the note from the japanese team, specifically citing this very issue, that's when the concerns really started to mount and the stock really started feeling the impact. >> i think that there's something wrong with the iphone 5. i think that samsung has come on very strong. when you go to a resaler, the sales
to be uninsured. you're not going to have that option because when you file your taxes, you'll have to attach proof that you are in a government-mandated plan. >> gretchen: wow. >> so if you earn too much to be eligible for medicaid, you will have to go shop on the state health insurance exchanges. >> gretchen: so these health insurance exchanges, a lot of this is rolling out now. >> they'll be open in october. and most people have never heard of these. but they're like an 800 number, a web site, and a dmv type office. and they only sell the government man-dated plan. it's like going to a dealership that sells four door sedans. >> gretchen: they dictate what you're going to get. i thought obamacare was supposed to give you a choice? >> no, there really will be no choice. there will be bronze, silver, gold and platinum. but they all have the same coverage. only the co-pays differ. section 1311 puts the federal government in charge of your health care fort first time, even if you have a private plan you paid for yourself. the secretary of health and human services can still dictate what doctors
, such as taxes and insurance, generally cannot add up to more than 43% of their monthly gross income. no standard is perfect, but the standard here provides a clear line with a measure of protection to borrowers that have increased certainty in the mortgage market. host: i want to bring in a few callers on this subject for you. oklahoma city, oklahoma, democratic line. good morning, vernon. caller: i am tickled to death that the government is setting the rules for the financial industry when it comes to the home market. people worked all their lives to provide a home and held for ways to get it paid off before they retire. this is the one area that the government needs to regulate and regulate closely and i am glad we're finally doing that. now, of course, we have drawn a line in the sand that we can hopefully reclaim. can we hope that it will ever change back to what we thought we had been through? guest: an excellent question. another one to add to that is -- will the regulators have the appetite to regulate this closely? making sure that banks are abiding by these rules? we had a system going
that dividend taxes were going to go up dramatically. even down to the last day of december. you come in, dividend taxes barely go up. i find that, like facebook, which we're going to talk about in a moment, we're not really privy to what's going on. it kind of drives me crazy. we're in a democracy and you're supposed to know. but i do feel that when i look at spain, when i look at france, when i look at germany, i look at the united kingdom they do not get caught up in this kind of wrangling. they are better governed nations right now. >> that's easy to say, i guess, when your comparison seems to be what is a completely dysfunctional congress at this point. jim, how do you go about trying to gauge how to even play this? you look at what happened over the end of the year, the fiscal cliff. and at the end of the day you might take away, well, they did get something done and the markets reacted positively. look at the rally in the first week of the year. do you approach it the same way? it seems to be to a certain extent we're not ignoring it, but at least saying i'm not going to -- >> i d
's not as big as it was. the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary c
debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was up 16%. that was the biggest year over year increase in u.s. oil production since 18 at which just happens to be when we started producing oil so if we think about what's going on. we have right now -- right now we produce oil at 80%, the same price the rest of the world does. we produce natural gas at 25% of the price the rest of the world does. we have cheap energy here in the united states and we feel that will drive manufacturing back to the united states, create jobs, and when all this political stuff is over, that's going to be a big story that we'll talk about ten years from now. >> these ar
out. that's at the bottom of the hour, but next, think the payroll tax hike is the only thing taking a bite out of your wallet? guess again, the sticker shock stunner that's slamming us all and the government denies it. get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. progress-oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on facebook. yeah. then how'd i get this... [ voice of dennis ] ...safe driving bonus check? every six months without an accident, allstate sends a check. ok. [ voice of dennis ] silence. are you in good hands? >> good morning, everyone, we're
, but next, think the payroll tax hike is the only thing taking a bite out of your wallet? your wallet? guess again, the this is $100,000. your wallet? guess again, the we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takesore money than a stranger, you need an ally. ally bank. your money needs an ally. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choo any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ ale announcer ] just like you, business pro. just like you. go naonal. go like a pro. address is on the steps on monday. i'm jamie colby. back to bulls and bears right now. >> brenda: so, first the price spikes and now the price hikes. chipotle warning of higher menu prices because of higher food costs. as consumers are getting smacked on ever
that fiscal cliff deal where dividend taxes just went to 20%. a lot of upset and anticipation that it would go higher but 20% is a great number. >> exactly. >> steven hammer, setting some highs of the day right now. you're bullish at least for the short-term here, how much higher do you go? >> i have no doubt in the next six months. we could potentially see anywhere from a 5% to 10% increase in the u.s. stock market, but we need to be cautiously optimistic, and to us it's all about earnings and it's all about volatility which is why we wait based on risk, and investors need to be cautious to where they invest money and they still need to stick with quality. >> okay. hank smith. what's going to take us to these new highs, do you think? >> well, look, i think we've seen in the beginning of this year finally some money coming out of bond mondayfunds going i equity funds. for five years it's been just the opposite so perhaps we're at the very beginning of what could be a very powerful trend providing a ton of fuel to the equity markets, and we agree. look, dividends are still very attractive, as l
of hasandy aid bill up for a vote. xlees with tax breaks for rum distillers? i need a drunk. >>> i'm kry is tal ball. are we turning our kids in to narcissists? >>> a dope. lance armstrong comes clean to the queen of talk but who needed the interview more, lance or oprah? >>> i'm shooting straight coming to guns. ready, aim? "the cycle" is on fire. >>> the house is back and getting serious about the constitution. members spent 1:05 reciting the entire u.s. constitution. it's the basis of our government, of course, but this is only the second time ever the entire document was read aloud in the house. >> we the people of the united states in order to form a more perfect union -- >> no person except a natural-born citizen shall be eligible to the office of president. >>> the powers to all cases of law and equity. >> full faith and credit given in each state to the public acts. >> congress shall make no law respecting an establishment of religion, the right of the people to keep and bear arms shall not be infringed. >> neither slavery nor involuntary servitude shall exist within the united s
more revenue, through tax reform, by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. turns out the american people agree with me. they listened to an entire year's debate over this issue and they made a clear decision about the approach they prefer. they don't think it is fair, for example, to ask a senior to pay more for his or her health care or a scientist to shut down life heavy saving research so the that a multimillionaire investor can pay less in tax rates than a secretary. they don't think it is smart to protect endless corporate loopholes and tax breaks for the wealthiest americans, rather than rebuild our roads and our schools, invest in our workers skills or help manufacturers bring jobs back to america. so they want us to get our books in order in a balanced way where everybody pulls their weight, everyone does their part. th
are protected by armed guards at their schools. mr. obama demands the wealthy pay their fair share of taxes, but he is just another elitest hypocrite when it comes to protection for their kids. >> the nra suffered a big loss in new york today with governor andrew cuomo signing into law the toughest gun control legislation in the country, strengthening the state's existing assault weapons ban. >> going to put rules in place that actually protect innocent people in society. that is what the state of new york is doing today. and it says common sense can win. and good people can win. and you can actually get government to work and get good things to happen. you can overpower the extremists with intelligence and with reason and with common sense. >> the nra immediately released this statement. these gun control schemes have failed in the past and will have no impact on public safety and crime, sadly, the new york legislature gave no consideration to that reality while lawmakers could have taken a step towards strengthening mental health reporting. instead, they opted for stopping the rights of g
? >> we like income. the dividend tax rates would go up dramatically in 2013. as the market moves on, take some money off the table, what we found the last three years is if you bought with the s&p is under the moving average, your average gain is 45.3%. if you bought when it was over the moving average, your average gain is 1.5% per year. i still think it'll be a back-and-forth market. take some profits in the euphoria. david: we think about what is happening inside the beltway. it is a global market. it is becoming more of a global market. you see global trade is really taking off in 2013. that leads to tremendous opportunities if it happens, right? >> i think so, david. evaluations are compelling whether it is europe, china. emerging market and even in japan. on the way to unlock the valuations and as investors come around to realizing those risks are receding, you will see a compression of the equity risk premium allowing evaluations to expand. david: lets michelle and she won one of those countries, japan. some people say this new leader going in the opposite direction of the free mar
the city counsel stopped the increase of taxes. >> today, mavericks will begin get southing -- setting up the festival which is expected to be packed with visitors. >> way too many customers and probably not enough food. >> a high surf advisory has beenish issued. authorities are morning to be careful with the waves like this one. stay tuned coverage on the mavericks surfing competition. you can watch online at ktvu.com or use our mobile ap. >>> if you are heading out to the beach today, you want to avoid the water because the waves are coming in. >>> sure, the sneaker waves are exactly what they are called. they can wash you out, especially the little ones oen the beaches. be prepared if you are going out there. it's going to be a nice beach day, just be prepared. look at the golden sun, plenty in store. we will continue with the cool conditions at least in the next hour or so. a rapid warm up. here's a look at what we are expecting, anywhere from 8 to 10 feet today. out at mavericks for the afternoon tomorrow, the waves hitting 30 feet and above. it's going to be a great day to observe
taxes up to the level where you fund the promises that we've already made. the entitlements that we've already made and the guarantees we've made, they just want to raise taxes on somebody. i don't know who, to the point where we never actually reform medicare, medicaid or social security. >> the question i want to ask him, is there ever a time that he's making, is it now given where we are in the economy? >> well, the question is, you put in a hundred and you take out 400 in medicare and the government covers 300. >> and it makes no sense. >> well, no, but there are people that think that the government's roll is to provide that 300. and so we should raise taxes to the point where you -- it doesn't matter that you -- >> right. >> it doesn't matter. that is the redistribution. >> that's the agal tearan notion or the equality, the fairness in outcome. >> i'll give it to him. we'll ask the question. >> i just hope you got fired up watching lance. >> i'm fired up watching lance. i'm fired up for that interview. >> i can tell he hurt you. i could tell from when you were over there, you
million r tax adjustment and $376 million from something and $700 million from reduced mortgage loan loss. jamie dimon said challenges still exist but as we look forward to 2013 -- let me finish this thought, we look forward -- we remain optimistic. we're committed to doing our part to speed the recovery of the housing market and we continue to see favorable credit conditions across our wholesale loan portfolios. at first blush. go ahead, andrew. introduce chris. >> chris whalen is here to respond to these numbers. i'm here to say they also put out on their website today. what do you make of these numbers? >> similar to welles making up a lot of earnings numbers with cost cutting, very important. a little light on revenue, i think the story of most banks going into 2013. my guess is interest margins continuing to squeeze because of the fed. >> that's not going to get better. >> the benefit from the fed has gone by on net and tt an alarmi rate and the time's gone >> what's your thoughts on loan growth. >> as jamie said he's trying hard to put on assets, everyone in the industry is. but wit
jersey and connecticut, these three states pay almost 16% of the taxes collected in the united states of america. >> some house conservatives favored amendment offered by south carolina mick mulvaney to pay for $17 billion in disaster relief cutting discretionary spending across the board by 1.63%. >> it's important to me that the money goes to the folks who need it very badly. it's so important to me,be that i think we should pay for it. >> the amendment failed. key new york democrat says paying for disaster relief cutting elsewhere would be a first. sandy victims should get their aid. >> i wantbe to repeat this point again. united states of america we respond to disasters. all americans respond to disasters. we don't ask for off-sets. >> with the nation's debt at $16 trillion and counting, conservatives say it isn't about bashing the northeast. it is about saving the country. >> we have to get this under control. most conservatives believe we have to come to a point where we stand and fight. i hope this is the time. >> after president obama said it would be irresponsible and absurd
burden on the bar were. monthly deaths of the consumer, such as taxes and insurance, generally cannot add up to more than 43% of their monthly gross income. no standard is perfect, but the standard here provides a clear line with a measure of protection to borrowers that have increased certainty in the mortgage market. host: i want to bring in a few callers on this subject for you. oklahoma city, oklahoma, democratic line. good morning, vernon. caller: i am tickled to death that the government is setting the rules for the financial industry when it comes to the home market. people worked all their lives to provide a home and held for ways to get it paid off before they retire. this is the one area that the government needs to regulate and regulate closely and i am glad we're finally doing that. now, of course, we have drawn a line in the sand that we can hopefully reclaim. can we hope that it will ever change back to what we thought we had been through? guest: an excellent question. another one to add to that is -- will the regulators have the appetite to regulate this closely? making sur
considered, as we take you back out here live, higher fares and even tax measures. but again a lot of people taking bart this morning. a lot of people heading for the door. let's take a live look at our traffic this morning. sal, how is it looking? >>> it's not too bad. people are taking bart. the bart system does look good right now. no major delays reported by them. let's take a look at some of the roads. highway 4, we had an earlier crash at the willow pass off ramp. it did not affect highway 4 too much. people couldn't really see it off the freeway. no major problems. there is slowing in antioch this morning. at the bay bridge toll plaza, it has been backed up for about a 20-minute late, maybe agent bit more than that now. eight kind of crowded. once on the bridge it does look good into the city. 85 and 280 or slow. the pa minutes remark traffic looks -- peninsula, traffic looks snake on 101 and 280 -- looks good on 101 and 280. >>> san jose has had a little bit of a breeze this morning. looks like it's tailing off. that's allowing temperatures to drop. i tried to put together a whole bu
does, 100 billion dollars or so, you wonder whether or not it's had a tax hit yet, if it's overseas, it hasn't. how much of the 5 billion that dell has is overseas? >> you know, that's a good question. i don't have that number off the top of my head but with these tech companies selling so much globally you do end up getting a large stockpile overseas. david: let me stop you there so our viewers know. that means there could be a potential big tax hit if most of that money is overseas? >> yeah, that's exactly right. if you have to repatriate for use in something like this, then you have to pay the differential in the different tax jurisdictions. so while you have 5 on the books, it could be significantly less that you could actually utilize. sandra: i want to bring a report from goldman sachs. they upgraded based on quote the possibility of a leveraged buyout offer providing floor for the shares. if you own dell shares, if you want to own dell shares, what does one do right now based on the news that we have at this moment? >> well, i think outside of a takeout, the 2013 still looks
. and this is not just the party of the wealthy, he said, and of lower taxes. it has to be, you know, many republicans don't make as much money and pay a much higher percentage of their income in taxes, and they need the party's help, too. i thought he made so many. that was such a potent -- what was it, 30 minutes? >> it really was, but mika, let's talk about the people that want to buy bushmasters. yes, gun sales are moving at a rapid pace. a lot of people are buying two or three. >> they were buying as many as they can get. >> just to keep up with their survivalist neighbors. >> right. >> you can't have enough of those clips, right? >> apparently not. >> maybe they string them around their christmas trees. i don't know what they do with them. but steve rattner, this is the problem the republican party has made. this is the mistake the republican party's made. they listen to the loudest voices. a small, small percentage of americans. and americans, by the way, who don't swing presidential elections. i have been saying it ad nauseam for four years and making extremist conservatives very upset. you do
mean, you really think we must be doing terrible. we have higher payroll tax, a gridlock in washington, but the actual job growth is very out of sync, and it almost says like, listen, we got rid of this, let's start hiring. we may be looking at this debt ceiling, and i'm going to invoke shakespeare, the bard, that this may be much ado about nothing. i'm going there. right here. >> right now? the cliff is -- >> don't you love -- you know, when i first heard, i thought what a great title, i said no, moran, take the shakespeare course first the it's going to be claymation death match, maybe ufc, you and i watch that in our spare time -- not -- but i don't think it's as important as getting through the fiscal cliff. people are hiring again. >> dow transports continue to hit six-year highs. >> even as crude is up 95. >> it's like a market that has transport leadership. did you see union pacific? we had mike's southern on "mad money" he says point-blank, the hole has bottomed and is starting to go higher. and be good to the shutdowns, the coal plants. don't forget china has been burning coal
financing. they are doing a great job. they did not raise taxes. in addition, we have a very business friendly atmosphere. if you come to texas, we will not pull the rug out from under your feet. connell: businesses, sometimes individuals, sometimes larger businesses are leaving state than going to others mostly because of taxes. how much of that juicy and texas in texas and what industries is a really predominate. >> we do not have an income tax. that is a powerful magnet. they do not expect us to go ahead and spend beyond our means. they, in because of the business atmosphere and because we like visitors. a friendly place. the idea of getting to the numbers that you talked about during the first part of the interview and getting through the projections that this particular group put out that this $9 billion gap, specifically, how do you get there sure mark where did the cuts come from? >> i do not know where that number came. there will be a supplemental appropriations bill which we filed in a few weeks. they will fill some of the medicaid that we do not have. it is available in the
, hidden taxes will take a painful bite. inside is the story from that conley who friends the argument more so in the washington d.c. area. local residents will be paying uncle sam more in 2013, between the two percent increase in payroll tax and to lesser known provisions buried in the fiscal cliff deal. there is also the issue of the health care tax, which also may hit some individuals. more details from the washington sunday examiner. the question we are focusing on is whether the president will bypass congress to raise the debt ceiling. we are getting your calls in common. buddy on the republican line. caller: good morning. it would not surprise me that he does raise the debt ceiling. the president alone spent over $1 billion last year just to himself. when does it stop? obviously he has never had a checkbook. i get a bill, i pay it. why do they just keep putting money out, putting money out, not take care of what they're doing doing, not realizing what they're doing? host: they give for the call. this from twitter -- the focus on the 14th amendment, section four, basically says that th
. the republicans need to be able to run against barack obama as the tax and spend liberal who keeps plunging us into debt. this would allow them to do that and still not blow up the economy. i mean, the only thing here that we know for certain is that they are going to raise the debt limit. they're going to do it. they know it. we know it. it's just a matter of how messy it's going to be before that. the way that you know republicans many my opinion are not serious, where is their list of things? if spending is such a horrible thing and we have a spending problem, not a debt problem, show us your list. what is it you would like to cut? let's see it. the last time they showed it to us, it was the ryan plan to destroy medicare and turn it into a voucher, and then they ran away from that during the presidential campaign when they should have been showing it off. if they're so into cutting the deficit and they think spend issing the problem, show it off. let's see what you got. they don't want to do it. >> what i don't understand about this is why if you believe that ultimately they're going to hav
for tech companies that want tax breaks. right foul those employers only have to show they are trying to hire locals for some entry level jobs. >>> lance armstrong doping and deception could cost him millions of dollars. the u.s. postal service sponsored his team from 1990 to 2004. the government has rejected his offer to give back $5 million. armstrong's confession airs to tomorrow. but the world antidoping agency says it will take more than a tv interview. >>> the board of supervisors gave initial approval to a ban on smoking at fairs and festivals including the fillmore jazz festival. promotions would have to mention no smoking is allowed at though events. it would also require one no smoking sign and announcements every two hours at the event. the idea needs final approval when the board meets later this month. >>> time now 4:46. the number of people sent to emergency rooms because of energy drinks has doubled in the past four years. now most of the 20,000 people that sought medical attention were young adults. energy drinks can cause a range of health problems including insomnia,
was when the city council vetted against putting a tax on last november's ballot to help the police department's finances. chief moore said if he decided he didn't have the support of city leaders it was time for him to go. san jose has not decided on a permanent replacement for him. >>> story of an attempted kidnapping in san jose is thousand being called a lie. the child's mother confessed to making up the story. coming up at 4:45 what is expected to happen next in the case and reaction from the community. >>> the local cycling community is split on whether to believe lance armstrong's apology for using performance enhancing drugs. >> i made my decisions. they are my case. i'm sitting here today to acknowledge that and to say i'm sorry for that. >> armstrong's long awaited interview with oprah winfrey aired last night. after denying doping allegations for years he confessed to taking banned substances to win seven tour de france titles. some local cyclists watching the interview request questioned the motives. >> we race clean, we race fair because we love to do it. >> other cycli
are not going to default." cornyn notes there will be tax revenue coming in and said it may be necessary to partially shut down the government to secure the long-term fiscal well-being of the country. white house aides just want congress to get it done. >> the point is without drama and delay, monthly extension is drama. okay? so congress should do its job. we're not going to negotiate over extending the debt ceiling. >> though the house is planning something short-term to force the senate to the a budget. >> just the structure, moving something on a shorter term, what we are discussing is something that all could support. it's reasonable. but also very constructive for america themselves. >> spokesman for the senate majority leader harry reid says if the house pass a clean debt ceiling incress, the senate will be happy to consider it. jay carney at the white house called for passing a clean debt limit deal without delay. leading republicans are saying without a budget that includes a real plan to reduce the deficit, the nation faces the threat of a credit downgrade. bret? >> bret: mike,
hundreds of thousands of dollars in sales tax by claiming to buy fuel from the suburban office. the office is only one part time employee. not even a single computer. united says the operation is legal. >>> drivers are paying a little more for gas again if you didn't noticed. aaa reports the biggest jump in the bay area is san jose. where the price of regular is $3.59. that is up a little more than a nickel since last month. the smallest increase is in san francisco where it has gone up just a penny in the last four weeks. drivers paying $3.68 there. >>> what we now know about california's babies. what is changing here that has some concerns this morning. jack! what happened? me and jason came back with drinks and all 20 nuggets were gone. we got nugged. there was a nugging. this guy just came running up... dip! dip! dip! shoveling 'em into his face! give me your nuggets- -we're like "no! save some for our boyfriends!" need more nuggets? jack's crispy, all-white meat chicken nuggets come with a choice of seven awesome sauces. an order of 20 is only $4.99 we should probably call the cops. i
for the ball and all of this stuff. right after he raised the taxes, i am just barely living. i made $20,000 per year and now that my paycheck is getting cut because he raised taxes, i cannot even afford food. i have two grandchildren and cannot afford to feed them. from 50,000 on down, 60,000 on down, why not tax us? he just tax the people that are higher? host: thank you for the call. let me use this point -- we are not focusing as much on budgets and taxes, but these are tougher economic times and this is something these committees have taken into account? guest: that was the driver behind scaling down from 10 balls to two. george bush in his second inauguration also had 10. that is where the standard was. that has been cut way back. there will be a concert on the national mall with bruce springsteen. there have been efforts not to overspend and there is a willingness to acknowledge that so many americans are having a tough economic times. host: tony, who morning. thank you for calling in. caller: thank you. i want to know, white people started all the money stuff. this president, why
at the tax and regulato regulatory, if it's cheaper to make it in china and ship it here. that's not the company's fault, that's the government's fault. you see toyota expanding in mississippi and i think volkswagen in tennessee and what do those states have in common, oh, yes, right to work. so the problem isn't so much -- it's partly the tax aof the government and the punitive costs of unions in states like michigan which has now gone right to work and see how that affects the auto industry. at the end of the day, 26.5 of the auto bailout was a direct check written to the united auto workers and the democrats 2012 in the election cycle. >> and joining us live to tell us how mitt romney is right, ironically he we find that out on the day the president is sworn in for a second term. seton, thank you very much. >> thank you. >> they've committed horrific crimes and now are asking for forgiveness and someone to love them. that story is straight ahead, match.com. and they were hand picked to sing at president obama's inauguration, we're seeing how the big choir is preparing for th
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